Found an interesting article published in The Lantern about PassGo, a student group at The Ohio State University. PassGo partners with other non-profits offering training and job counseling to ex-felons. It uses the Work Opportunity Tax Credit program as an additional tool to help connect these rehabilitated men and women with private employers in the community. (more…)
Author: Vaughn Hromiko
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Representative Dennis Ross (FL Republican) An interesting opinion piece by Representative Dennis Ross (Republican from Florida) titled “Responsible solutions to repaying student loans,” recently popped up in Florida Politics. Ross was contributing as a guest writer. (more…)
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Jim McDermott, D of Washington Democrat Representative from Washington State, Jim McDermott on September 8th introduced HR 5947, the Improved Employment Outcomes for Foster Youth Act of 2016. (more…)
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Hello friends and readers, this is Vaughn Hromiko, here. This post is meant as a question to employers and agents . . . and anyone involved with the Work Opportunity Tax Credit program. I would love to hear from you.
The Question: How do you (or your CPA, or your company, or others you have observed), handle the claiming of Work Opportunity Tax Credits for employees whose WOTC certifications are delayed until after the tax-return filing deadline?
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Today, the IRS formally recognized that employers (and state workforce agencies) need more time to adjust to the WOTC-program changes initiated by the Protecting Americans from Tax Hikes Act of 2015.
This morning, the IRS issued Notice 2016-40, which extends transition relief for another three months. At about the same time, the Department of Labor also issued Training and Employment Guidance Letter Number 25-15, dealing with the same issues. (more…)PUBLISHED IN
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Paul Suplizio, President of the the Work Opportunity Tax Credit Coalition has authored an official letter to the Department of Treasury urging the Department to extend the time period granted for WOTC applications under Transition Relief.
IRS Notice 2016-22 provides Transition Relief for employers needing more time to process WOTC applications for employees hired in 2015 and early 2016. This relief was necessary because of Congress’ long delay in reauthorizing the WOTC program after it expired on December 31, 2014. (more…)PUBLISHED IN
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Ed Sealover of the Denver Business Journal reports today that State Representative Dianne Primavera has killed her state tax credit proposal HB 1372. Yesterday, Colorado’s House Finance Committee voted 9 to 0 to postpone the bill indefinitely. (more…)
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Colorado House Bill 1372, legislation proposing a State of Colorado Work Opportunity Income Tax Credit, has been working its way through the Colorado State Legislature.
HB 1372 was introduced on March 16th. The House Committee on Public Health Care and Human Services passed an amended version of the bill on April 5, sending it to the House Finance Committee for further hearings. Apparently, the sole amendment was to delay implementation of the program until January 1, 2018. (more…)PUBLISHED IN
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Representative Bonnie Watson Coleman of New Jersey has sponsored a bill to increase the amount of Work Opportunity Tax Credit generated by wages paid to older Long Term Unemployment Recipients.
This bill, known as the Investing in Older Workers Act, would increase the maximum qualifying wage from the current $6,000 to $14,000 for qualifying Long Term Unemployment Recipients who are age 55 or older. As a result, the maximum tax credit amount that could be generated by hiring an an older long-term unemployment recipient would increase from $2,400 to $5,600. (more…)PUBLISHED IN
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The IRS has issued a revision of IRS Form 8850 “Pre-Screening Notice and Certification Request for the Work Opportunity Credit.” This revision was made necessary by the recent Protecting Americans from Tax Hikes Act of 2015 (PATH Act), which added a new target group to the WOTC program. The form now includes a question to screen for Long Term Unemployment Recipients.
Question number 7 at the bottom reads: (more…)PUBLISHED IN
